Great time for first time home-buyers: National Housing Conference CEO
National Housing Conference CEO David Dworkin discusses falling U.S. mortgage rates as and how much money Americans may be able to save as well as home purchasing trends.
WASHINGTON (AP) — Construction of new homes fell again in February, but not as much as the previous month. Those declines follow a December surge which had pushed home construction to the highest level in 13 years.
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Builders started construction on 1.60 million homes at a seasonally adjusted annual rate, a decline of 1.5% from 1.62 million units in January, the Commerce Department reported Wednesday. Analysts had expected a more significant drop. The economic impact of the coronavirus outbreak was not apparent in the February numbers.
Application for building permits, considered a good sign of future activity, fell 5.5% in February to an annual rate of 1.46 million units. However, permits for single-family home construction rose 1.7%.